Corn and wheat continue lower on profit taking, despite tensions in the Black Sea. Soybeans are off lows with higher bean oil and watching weather, but Nov needs to hold $14. Cattle 2-sided seeing profit taking ahead of reports and despite higher cash again today. Hogs also consolidate. DuWayne Bosse, Bolt Marketing has more.
Corn and Wheat See Profit Taking, Soybean Off Lows Watching Weather, BO: Cattle 2-Sided Despite Higher Cash, Await Reports
Corn & wheat lower on profit taking, Soybeans off lows with higher BO, watching weather. Cattle 2-sided w/profit taking pre-reports and despite higher cash. Hogs consolidate. DuWayne Bosse, Bolt Marketing has more.
July 21, 2023 11:37 AM
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Garrett Toay with AgTraderTalk says after the big rally to start the week the grain markets saw some profit taking and corrective selling.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
Oliver Sloup Blue Line Futures, says wheat prices skyrocketed adding risk premium on concerns about the escalating Black Sea war and the disruptions it is causing in the export market. It could have more upside left.
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